‘Fake Goldman Sachs’ discovered in China

The Chinese have become well-known for their skill in replicating expensive handbags and flashy watches, but reports today allege that one company in the country has gone even further and set up a fake Goldman Sachs.

US casino workers alerted officials from China's Communist Party to the existence of Goldman Sachs (Shenzhen) Financial Leasing, based in Shenzhen - a city close to the border with Hong Kong.

The company, which has links to gambling companies, set up shop in 2013 and bills itself as one of Shenzhen's largest financial leasing firms, Bloomberg reported.

A spokesman for the company told the Agence France-Presse news agency that it does not have any ties to the New York-listed Goldman Sachs and the similarity was unintentional.

"We just picked the name out and it’s not intentionally the same," she said.